Morning Insights 29th June

Simon Alagbe

Analyst

Instrument: USDCAD

The pair gained traction in yesterday's session as retreating oil prices weighed on commodity supported Loonie. I expect the move to be sustained in today's session as Oil continues moving south because of rising cases of COVID-19 in Asia.

Technicals: 

The pair has consolidated on the hourly chart with a breakout to the upside favoured. Target at 1.23982 and stop-loss at 1.23267. 

Fundamentals 

CB Consumer Confidence (USD)  3:00 PM


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